“Let’s put an end to the robber barons!” investor activist Hans-Jacob Heitz urged shareholders at Credit Suisse’s annual general meeting in which others also criticised the payouts.

At the meeting, shareholders were asked to vote on short-term bonuses for the executive management worth a total of 17 million francs.

The payouts were approved, but the level of support plummeted with 59.5 percent voting in favour against 81.5 percent in the corresponding vote last year.

Shareholders also backed the proposed board pay as well as fixed compensation and long-term bonuses for senior management by wider margins.

Investors in Swiss companies have veto power over executive and board compensation thanks to a referendum in 2013. A majority must vote against proposed compensation to block it.

TROUBLE IN THE PIPELINE

In a further sign of unrest over Credit Suisse’s compensation policy -- criticised for an apparent disconnect between pay and performance -- 40 percent of voters opposed the 2016 compensation report, more than double the opposition at last year’s AGM.

Activists from environment group Geenpeace interrupted the meeting during Thiam’s speech by unfurling a banner from the ceiling protesting Credit Suisse’s dealings with companies behind the controversial Dakota Access Pipeline.

“When I moved here, I was told that this was a very quiet, mountainous, stable nation,” Thiam, who joined Credit Suisse from British insurer Prudential in mid-2015, said to applause from investors.